Turkey is vulnerable to natural disasters that can generate substantial damages to public and private sector infrastructure capital. Earthquakes and floods are the most frequent hazards today, and flood risks are expected to increase with climate change. To ensure stability and growth and...

Analyzing the macroeconomic consequences of a transition to a net-zero economy creates specific modeling challenges, including those related to the non-marginal nature of the required transformation, the role of technologies, and the replacement of fossil fuel-based assets with greener ones. To...

Analyzing the macroeconomic consequences of a transition to a net-zero economy creates specific modeling challenges, including those related to the non-marginal nature of the required transformation, the role of technologies, and the replacement of fossil fuel-based assets with greener ones. To...

How does the South African government react to changes in its debt position? In investigating the question, this paper estimates fiscal reaction functions using various methods (OLS, VAR, TAR, GMM, State-Space modelling and VECM). The paper finds that since 1946 the South African government has...

This note highlights a major reason to limit climate change to the lowest possible levels. This reason follows from the large increase in uncertainty associated with high levels of warming. This uncertainty arises from three sources: the change in climate itself, the change’s impacts at the...

Climate change and climate policies will affect poverty reduction efforts through direct and immediate impacts on the poor and by affecting factors that condition poverty reduction, such as economic growth. This paper explores this relation between climate change and policies and poverty...

The 2017 Unbreakable report made the case that disaster losses disproportionately affect poor people. The Caribbean hurricane season of 2017 was a tragic illustration of this. Two category 5 hurricanes wreaked destruction on numerous small islands, causing severe damages on islands like Barbuda,...

Governments now have access to a large and growing range of financing instruments for rapidlymobilizing funds in the aftermath of a disaster. Instruments like reserve funds, contingent linesof credit, and insurance programs are critical for financing relief, recovery and reconstruction efforts,...

This paper investigates the effects of pollution on labor productivity in Chile. Data on fine particulate matter pollution in Chile were collected and matched to sectoral labor productivity at the city level. The endogeneity between labor productivity and pollution is controlled for by...